The Architect & Engineering Insurance Leader

How Much Is Business Insurance
for Agricultural Consultants?

Whether you help your clients at the farming, processing, distribution, or corporate finance level, as an agricultural consultant you play a vital role in managing and optimizing a client's resources. But what about managing your own financial risks? Agricultural consultant insurance can protect you from lawsuits over client disputes, inaccurate forecasts, injuries, and other liabilities.

What Does General Liability Insurance Cost?

Many agricultural consultants need General Liability Insurance in order to sign contracts with clients, landlords, and other businesses. GL Insurance covers third-party lawsuits over personal injury, property damage, or reputational damage. So if you're visiting a client's farm or office and accidentally damage their property, equipment, or supplies, this coverage pays for legal expenses and damages you owe in a lawsuit.

General Liability Insurance for ag consultants typically starts at $425 in annual premiums.

Average Premiums, Deductibles and Limits on General Liability Insurance Policies for Agricultural Consultants

What Does a Business Owner's Policy Cost?

Agricultural consulting firms can save money on their insurance by purchasing a Business Owner's Policy, which packages General Liability Insurance and Property Insurance. You'll get two insurance policies at a significantly reduced rate. Property Insurance will cover your business property — like furniture, computers, and equipment — insuring you against losses due to theft, fires, vandalism, and some weather damage.

BOPs for agricultural consultant typically cost $500.

Average Premiums, Deductibles and Limits on Business Owner's Policies for Agricultural Consultants

Name

USD

Median policy premium:

$500

Per claim limit:

$1 million

Policy limit:

$2 million

Median policy deductible:

$500

HOW MUCH IS
Errors and Omissions Insurance?

How Much Is Errors and Omissions Insurance?

As an agricultural consultant, you always have risk when making a recommendation to a client. Say you recommend restructuring a client's agricultural supply chain, but the new system only creates headaches and doesn't save them any money. Errors and Omissions Insurance protects you from the cost of lawsuits about these and other consulting errors.

E&O Insurance for an agricultural consultant ranges between $500 and $1,155 in annual premiums.

Average Premiums, Deductibles and Limits on Errors and Omissions Insurance Policies for Agricultural Consultants

How Much Is Workers' Compensation?

Most states require employers to have Workers' Compensation Insurance — in fact these requirements sometimes even apply to consultants who own their own business and are the only employee.

Workers' Comp for an agricultural consultant covers medical costs and lost wages when an employee is injured or gets ill from a work-related incident. Say a consultant falls and breaks their leg while visiting a dairy farm. Workers' Comp would cover their medical bills, shielding the employer from having to pay out of pocket.